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S&P says Veneto Banca's rating would be "CCC" without state aid prospect
June 6, 2017 / 10:50 AM / 6 months ago

S&P says Veneto Banca's rating would be "CCC" without state aid prospect

MILAN, June 6 (Reuters) - Standard & Poor’s rating on Italian troubled lender Veneto Banca’s debt would be in the “CCC” region rather than the actual “B” level if it did not take into account the potential for state aid, S&P analyst Mirko Sanna said on Tuesday.

”Veneto Banca has a negative outlook and a ‘B’ rating that takes into account potential state support. Without that support the rating today would be ‘CCC/CCC+,’ Sanna told reporters on the sidelines of a presentation.

S&P rates an obligation ‘CCC’ if it is at risk of not being repaid. (Reporting by Sara Rossi, editing by Silvia Aloisi)

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